Sol Systems Closes Financing on 123-MW Illinois Solar Portfolio
Sol Systems has closed financing on a 123-MWAC solar portfolio spanning Knox, Tazewell and Peoria Counties in Illinois, with construction set to begin soon, Solar Power World reports. The projects will be built across more than 900 acres, and SOLV Energy has been named EPC contractor for the portfolio, continuing a relationship that includes the 189-MWDC Eldorado Solar Project in southern Illinois. Sol Systems CFO Richard Romero said the milestone reflects the company’s ability to move projects from development into construction with the capital structure and execution discipline needed to build an owned-and-operated portfolio. SOLV Energy CEO George Hershman said the company looks forward to bringing its utility-scale EPC experience to another Sol Systems project in the state. The portfolio is expected to generate around 300 construction jobs and more than $25 million in long-term property tax revenue for central Illinois communities.
What It Means for Subcontractors
- Civil, electrical and mechanical subcontractors in the Peoria area should position now for SOLV Energy’s bid packages, as the EPC role is already assigned and construction is imminent across Knox, Tazewell and Peoria Counties.
- With roughly 300 construction jobs projected, local labor and equipment suppliers in central Illinois have a concrete staffing target to plan around as mobilization begins.
- Subcontractors with prior utility-scale solar experience should highlight past work with SOLV Energy, given the firm’s track record with Sol Systems on the 189-MWDC Eldorado Solar Project, when pursuing packages on this new portfolio.
